LATAM Airlines Group (NYSE:LTM) Sees Strong Trading Volume - Here's What Happened

Key Points

• LATAM Airlines Group experienced a significant increase in trading volume, with about 1.6 million shares traded, marking a 139% rise from the previous session.
• Wall Street Zen downgraded the stock from a "strong-buy" to a "buy" rating, reflecting cautious sentiment among analysts, while the overall consensus remains a Buy rating with a target price of $39.00.
• Institutional investors, including Dimensional Fund Advisors and Northern Trust, have recently made substantial investments in LATAM Airlines, indicating renewed interest in the company.

Shares of LATAM Airlines Group S.A. (NYSE:LTM - Get Free Report) saw strong trading volume on Tuesday . 1,615,190 shares changed hands during mid-day trading, an increase of 139% from the previous session's volume of 676,336 shares.The stock last traded at $47.50 and had previously closed at $49.35.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of LATAM Airlines Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $39.00.

LATAM Airlines Group Trading Down 0.5%

The business's fifty day simple moving average is $44.79 and its 200-day simple moving average is $37.70. The firm has a market cap of $14.65 billion, a P/E ratio of 12.45, a PEG ratio of 0.46 and a beta of 3.59.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its position in shares of LATAM Airlines Group by 44.9% during the 1st quarter. Blue Trust Inc. now owns 1,949 shares of the transportation company's stock valued at $61,000 after purchasing an additional 604 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of LATAM Airlines Group by 761.1% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,170 shares of the transportation company's stock valued at $88,000 after buying an additional 1,918 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of LATAM Airlines Group during the 2nd quarter valued at $90,000. Rhumbline Advisers raised its position in shares of LATAM Airlines Group by 113.8% during the 1st quarter. Rhumbline Advisers now owns 3,194 shares of the transportation company's stock valued at $100,000 after buying an additional 1,700 shares in the last quarter. Finally, Liontrust Investment Partners LLP purchased a new stake in shares of LATAM Airlines Group during the 1st quarter valued at $182,000.

LATAM Airlines Group Company Profile

LATAM Airlines Group SA, together with its subsidiaries, provides passenger and cargo air transportation services in Peru, Argentina, the United States, Europe, Colombia, Brazil, Ecuador, Chile, the Asia Pacific, and rest of Latin America. The company operates in two segments, Air Transportation; and Multiplus Coalition and Loyalty Program.